Smartlands Platform has entered a partnership with Colliers International, a global estate service and investment management company. The partnership represents the beginnings of a business relationship meant to tokenize real estate-based securities managed by Colliers International.
The Smartlands Platform, designed for creating and trading low-risk securities, appears to be moving into the real estate sector.
The platform, created on the Stellar Lumens (XLM) network, is working to be legally-compliant as it tries to gain an advantage in the young tokenized securities industry. Ultimately, the platform’s goal is to be a hub of asset-backed tokens for trading real estate, agricultural-based assets, and other tokenized asset classes in the economy. The announcement of a collaboration between Smartlands and Colliers International represents a push towards tokenized securities for a firm that has some $116 million in real estate assets.
Colliers International Convinced of the Future of Tokenized Securities
The real estate giant released a statement accompanying the announcement which made clear their belief that tokenized securities would someday become the new standard.
Ramune Askiniene, the CEO of Colliers International Advisors in Lithuania, is quoted as saying:
“The global financial and commercial landscape clearly shows trillions of dollars worth of real estate ripe for tokenization. We at Colliers are positive that digital entrepreneurship of the new post-ICO era of security tokens will have a significant impact on redefining wealth creation, investing, fundraising, and a host of other Internet-based commercial activities….”
The “post-ICO era” is looking more concrete as more companies look to tokenize their assets. The real estate market appears to be the most likely to first be revolutionized by this new digital asset class since the space has historically had a liquidity problem. Arnoldas Nauseda, CEO of the Smartlands Platform, commented as per the announcement that “creating liquidity for a property of any kind was always a main challenge for the real estate industry.”
In the past few months, Viktor Krekotin, a Smartlands advisor and Stellar network advocate, got some media buzz over his comment that the Stellar network would be the leading network for tokenized securities in the future.
What makes this partnership significant is the vast amounts of assets in play which would further push tokenized securities into the spotlight. However, the announcement makes clear that two firms are still only “exploring possibilities” and nothing is in development yet. Effectively, we are still at the pre-development stage of tokenized securities for Colliers International.
Do you agree that the first sector of the economy to be tokenized will be real estate? How soon can we expect these platforms for tokenized securities to be commercially viable? Comment down with your thoughts below.
Image courtesy of ICOnow.
Download Our Free Security Token Starter Kit
Join 5,000+ Other Investors
GET IT NOW